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Top 10 2018: A look at the world’s expected 10 largest medical devices companies

August 24, 2018

The medical device market is one the major industries in healthcare and is one of the rapidly growing field within life sciences, with continuous advancement and new technologies. The market has numerous products that vary from medical gloves to prosthesis to diagnostic impaging equipment, along with the development of emerging technologies that offers improved clinical outcome. The market consists of comparatively small number of giant players and huge number of small players that are involved in R&D of advanced devices. The global medical device market is expected to grow at a CAGR over 8% in next 6-8 years. The market is highly regulated, and companies must continuously invest on research and development to have competitive edge in the industry.

Here are the list of expected top 10 medical devices companies in 2018

1. Medtronic plc

Headquarters: Dublin, Ireland

2017 revenue: $29,953 million

2018 revenue: $30,198 million (est.)

Employees: 84,000

Medtronic Plc is Ireland based public company, incorporated in 1949, that develops and manufactures diagnostics products, medical imaging systems, and surgical products. The company functions through four segments: cardiac and vascular group, minimally invasive therapy group, restorative therapy group, and diabetes group. Annual revenue of the company in 2017 is $29,953 million, which is 0.8% more compared to FY2016.

2. Johnson and Johnson

Headquarters: New Jersey, US

2017 revenue: $26,592 million

2018 revenue: $28,151 million (est.)

The US based public firm, is among the leading companies in the healthcare industry and has a broad range of business segments. The company operates its business through three business segments, consumer healthcare products, medical device, and pharmaceuticals. It is incorporated in 1886 and has around 134,000 employees.

3. Fresenius Medical Care

Headquarters: Bad Homburg vor der Höhe, Germany

2017 revenue: $21,303 million

2018 revenue: $22,283 million (est.)

It is a German based premier healthcare company involved in delivering high quality care to the patients suffering from renal and various other chronic conditions. The company operates its business through its key segments such as, Dialysis Services, Health Care Products and Care Coordination. Its revenue in 2017 is increased by 22% compared to FY2016.

4. Philips Healthcare

Headquarters: Amsterdam‎, Netherlands

2017 revenue: $21,298 million

2018 revenue: $21,183 million (est.)

Philips Healthcare is a medical branch of Philips, the largest lighting manufacturer in the world. The company was founded in 1891, and employees around 73,900 people.

5. GE Healthcare

Headquarters: Little Chalfont, US

2017 revenue: $19,116 million

2018 revenue: $19,978 million (est.)

GE Healthcare (operates as a subsidiary of GE Electrical) is a global leading manufacturer of medical devices in healthcare industry. The company develops, markets and sells diagnostic imaging systems, cardiac devices, and patient monitoring devices. The company was founded in 1994, and employees around 313,000 people.

6. Siemens Healthineers

Headquarters: Amsterdam‎, Netherlands

2017 revenue: $16,517 million

2018 revenue: $16,400 million (est.)

Siemens Healthineers is a medical technology business segment of Siemens AG that provides clinical diagnostics and therapeutic systems. It was earlier known as Siemens Healthcare Diagnostics and later renamed as Siemens Healthineers in May 2016. The segment experienced 15.8% upsurge in revenue compared with previous year figures.

7. Cardinal Health

Headquarters: Dublin, Ohio, US

2017 revenue: $13,524 million

2018 revenue: $14,714 million (est.)

Cardinal Health, Inc. is a universal healthcare products and services company, that experienced 8.8% growth in revenue in 2017 over FY2016. The company offers modified solutions for healthcare systems, hospitals, ambulatory surgery centers, pharmacies, physician laboratories and clinical hospitals across the globe. The company ranks #14 on the Fortune 500 and has approximately 28,000 employees.

8. Stryker Corporation

Headquarters: Kalamazoo, Michigan, US

2017 revenue: $12,444 million

2018 revenue: $13,674 million (est.)

Stryker is one of the pioneer among medical technology companies with a robust footprint in the healthcare industry. The company operates its business through three major business segments, Orthopedics, MedSurg, and Neurotechnology and Spine. Stryker was established in 1941 and has around 33,000 employees.

9. Becton, Dickinson and Company

Headquarters: New Jersey, US

2017 revenue: $12,093 million

2018 revenue: $13,144 million (est.)

Becton Dickinson and Company designs and manufactures medical technologies used by clinical laboratories, healthcare institutions, life science researchers, pharmaceutical industry, and the public. Medical device and life science are the two operating segments of the company. The employees around 41,900 employees and experienced decreased revenue of 3% over 2016.

10. Baxter International, Inc.

Headquarters: Deerfield, Illinois, US

2017 revenue: $10,561 million

2018 revenue: $10,163 million (est.)

Baxter international is one of the leading public firms established in 1931. The company operates through six major businesses including Pharmaceuticals, Renal Care, Clinical Nutrition, Medication Delivery, Acute Therapies and Advanced Surgery. The company employees more than 47,000 people in over 100 countries and experienced an increased revenue of 3.9% in 2017.